Infosys Ltd (NSE: INFY): On Monday, the stock market is witnessing a decline. On Monday, the Sensex opened with a decline of 133 points, and the Nifty opened with a slight decline of 15 points. On a larger scale, a lot of instability is being seen in the Indian stock market.
Rise In The IT Index
However, amidst this instability, the performance of the Nifty IT index remains good. The Nifty IT index touched the figure of 46000 on Friday.
Market experts believe that the Nifty IT index may continue to rise in the future as well. On Monday, the IT index was trading at the level of 45666 with a decline of 0.72 percent.
Infosys Shares
The stock of Infosys Ltd, the IT giant company included in the Nifty IT index, has made a profit of 33 percent in the last 6 months.
The special thing is that on the technical front, the stock has also given a breakout from the 2-year cup and handle pattern on its weekly chart.
33% Return In 6 Months
Let us tell you that the Infosys stock was trading at the level of Rs 1450 on 12 June 2024 and after 6 months i.e. on 12 December 2024, the stock reached the level of Rs 1987. It has given a profit of 33 percent in 6 months. Market experts believe that the rise of the stock is not going to stop now.
Target Of Rs 2165 Received
A technical Analyst while giving suggestions on Infosys stock, says that the stock can be considered for purchase in the range of Rs 1950 to Rs 1980 with a target above Rs 2165. As a safety measure, a stop loss should be placed below the level of Rs 1860 on the stock.
The analyst further says that the IT sector has been trading strongly for the last few weeks and is currently at a record-high level.
Buy Infosys When There Is A Fall
The analyst further says that any kind of decline in such heavyweight IT stocks should be seen as a buying opportunity, especially in Infosys, which is giving a breakout with a bullish price pattern with light volume.
Highlighting, Shah further says that on the price pattern front, the stock is recording a breakout from the cup handle price pattern which was running for the last 2 years, this breakout suggests the continuation of upward momentum in the stock as well as offering fresh buying opportunities.
On the momentum front, the Relative Strength Index of Infosys stock is currently trading in the bullish range and has also given a positive crossover, the stock has also crossed the level of 60.
RSI And MACD Of Infosys Stock
The daily Relative Strength Index of Infosys Ltd stock is currently at the level of 66.5, while the daily MACD of the stock is currently trading above the central and signal line, which is a bullish signal.
Share Performance
Infosys Ltd’s share has given a profit of 26% in one year, whereas in the last 6 months, the share price has seen a rise of 33%. Infosys share is trading at Rs. 1992 level with a slight decline of 0.34% on Monday.
52 Weeks High/Low Level Of Infosys Share
The 52 Weeks High level of Infosys share is Rs. 2006 while the 52 Weeks Low level is Rs. 1358. The market capitalization of Infosys company is Rs. 8,26,399 crore.
Quick Fact
Infosys
| Company name | Infosys |
|---|---|
| IT Index Rise | Nifty IT touched 46000 |
| Current IT Index Level | 45666 with 0.72% fall |
| Recent Return | 33% in 6 months |
| Profit Period | June 2024 to December 2024 |
| Starting Price (12th June 2024) | ₹1450 |
| Current Price (December 2024) | ₹1980 |
| Possible Target Price | Above ₹2165 |
| Buy Range | ₹1950 to ₹1970 |
| Stop Loss | Below ₹1860 |
| RSI | 66.5 (bullish) |
| RSI Signal | Positive crossover |
| MACD Signal | Above central and signal line |
| Chart Pattern | Cup and handle breakout (2 years) |
| Time Mentioned For Breakout | 2 years |
| Analyst Advice | Buy during a fall |
| Last 1-Year Return | 26% |
| Last 6-Month Return | 33% |
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